The Shareholders Foundation announced that an investor in shares of SouFun Holdings Ltd (NYSE:SFUN) filed a lawsuit in the U.S. over alleged Securities Laws violations by SouFun Holdings Ltd.
SouFun Holdings Limited operates as a real estate Internet portal in China.
Investors who purchased a significant amount of shares of SouFun Holdings Ltd (NYSE:SFUN) between May 20, 2015 and October 27, 2015, have certain options and for certain investors are short and strict deadlines running. Deadline: December 29, 2015. NYSE:SFUN investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
The plaintiff alleges on behalf of purchasers of SouFun Holdings Ltd (NYSE:SFUN) common shares between May 20, 2015 and October 27, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between May 20, 2015 and October 27, 2015 Defendants issued allegedly materially false and misleading statements to investors and/or allegedly failed to disclose that SouFun Holdings Ltd employees routinely created “fake contracts”, that Defendants were aware that SouFun Holdings Ltd employees routinely created “fake contracts”, and that as a result, SouFun Holdings Ltd’s public statements were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On October 27, 2015, a report was published asserting, among other things that Chinese media sources have been reporting widespread layoffs at SouFun Holdings Ltd as a result of “faked contracts” employees were involved in creating, that other media outlets report that SouFun Holdings Ltd may have had knowledge that these fake transactions were taking place, and that SouFun Holdings Ltd has not made any disclosures in the U.S. regarding these layoffs.
Shares of SouFun Holdings Ltd (NYSE:SFUN) closed on November 17, 2015, at $7.45 per share.
Those who purchased shares of SouFun Holdings Ltd (NYSE:SFUN) have certain options and should contact the Shareholders Foundation.
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